Pune, 06, Dec 2022: According to Maximize Market Research, the Expanded Polypropylene Foam Market is expected to be worth USD 1,623.14 million by 2029, with a 6.3% CAGR. Over the forecast period, product demand is expected to be driven by the rising need for materials that are resistant to chemicals and water in the packaging and consumer goods sectors.
Expanded Polypropylene Foam Market Scope and Research Methodology
To prepare the report, both primary and secondary data sources were used. Data collected from businesses and industries utilizing primary and secondary sources is part of the research approach used to identify problems or evaluate the system’s past, present, and future performance. Among the many tools used for organizational analysis, the financial viewpoint and SWOT (strengths, weaknesses, opportunities, and threats) models are just two. One technique for examining business processes is value chain analysis. Additionally, a bottom-up approach was used to evaluate the market’s size. The major market players are identified, and their market revenues are assessed, through primary and secondary research. Interviews with significant opinion leaders and subject matter specialists, including knowledgeable front-line personnel, business owners, and marketing gurus, are a key component of primary research. Reviewing the annual and financial reports of leading manufacturers were considered secondary research.
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Expanded Polypropylene Foam Market Overview
Foams manufactured from polyethylene are referred to as expanded polyethylene foam. A multipurpose bead foam, expanded polypropylene (EPP) foam offers features like energy absorption, impact resistance, thermal insulation, chemical resistance, and 100% recyclable material. Expanded Polypropylene Foam’s enhanced attributes, including durability, chemical and water resistance, thermal insulation, and recyclability, are used in a wider range of sectors. In addition, rising investments in industrial operations have increased the production of consumer items and automobiles throughout major economies. Over the next years, this is expected to fuel demand for molded items and foam beads made of expanded polypropylene (EPP).
Expanded Polypropylene Foam Market Dynamics
Product adoption is expected to have a significant impact on market growth during the forecast period in industries like packaging, consumer products, and furniture. The product’s increasing variety of applications in different industries can be credited for its exceptional attributes, which include durability, chemical & water resistance, thermal insulation, and recyclability. Expanding industrial investment across major economies has led to a rise in the production of cars and consumer products. In turn, this will probably result in a rise in demand for expanded polypropylene foam beads and moulded goods during the forecast. The increased demand for materials that are resistant to chemicals and water in the packaging and consumer products industries is expected to drive product demand throughout the forecast period.
It is expected that the current price volatility linked with raw materials will have an impact on the prices of finished goods, hence severely limiting EPP’s ability to expand its market. In addition, the rules governing safety standards and the risks posed by chemical compounds are expected to limit the growth of the expanded polypropylene (EPP) foam market to some extent and serve as a significant market restraint.
Expanded Polypropylene Foam Market Regional Analysis
With the highest share of the global volume in 2021, Asia Pacific dominated the expanded polypropylene foam market. Demand for expanded polypropylene (EPP) foam in the Asia Pacific region is expected to increase as consumer spending on goods and auto demand rise in countries like China, India, Indonesia, and Malaysia. In addition, the production of consumer goods and electronics is growing quickly in China, India, and Singapore due to rapid industrialization, an abundance of raw materials, and easy access to labor.
Expanded Polypropylene Foam Market Segmentation
By Product Type
By End-Use Industry
- Consumer Goods
Expanded Polypropylene Foam Market Key Competitors:
- Sonoco Products Company (U.S.)
- Clark Foam Products Corp. (U.S.)
- SP Corporation (U.S.)
- Package Design & Manufacturing Inc. (U.S.)
- Woodbridge Group (Canada)
- JSP Corp. (Japan)
- Kaneka Corp. (Japan)
- Furukawa Electric Co., Ltd. (Japan)
- Hanwha Corp. (South Korea)
- Polyfoam Australia Pty Ltd (Australia)
- BASF SE (Germany)
- DS Smiths plc (UK)
- Knauf Industries (France)
- IZOBLOK (Poland)
- Armacell International S.A. (Switzerland)
- Chemische Fabrik Budenheim KG (Germany)
Middle East and Africa
- Automa Multi Styrene (Pty) Ltd (South Africa)
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Key questions answered in the Expanded Polypropylene Foam Market are:
- How is the Expanded Polypropylene Foam Market performing in Asia Pacific?
- Who are the key players in the Expanded Polypropylene Foam Market?
- Which top 5 countries are responsible for the majority of the demand for Expanded Polypropylene Foam?
- What percentage of the market do the top 5 Expanded Polypropylene Foam suppliers comprise?
- What major trends are witnessed in the international market?
- What major factor is influencing the need for Expanded Polypropylene Foam?
- What are emerging trends in the expanded polypropylene foam market?
- What are the recent developments in the expanded polypropylene foam market?
Maximize Market Research is leading Chemical and Materials research firm, has also published the following reports:
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